Surged MoM

Yes, building permits surged a pleasant 17% MoM in December. But consider that a 1-month wonder due to a builder rush to get applications in ahead of building code changes that were going into effect on 1/1/11 in NY, PA and CA. This is why permits soared 81% in the Northeast (courtesy of NY and PA) and 44% in West (thank you CA!!!) while in the rest of the country (Midwest and South) building permits sagged 5%.